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ECONOMY | 25-04-2018 08:57

INDEC: Economic activity grew 5.1% in February

he nation’s trade balance closed in March with a deficit of US$611 million, INDEC also reported.

Economic activity in Argentina increased by 5.1% in February on the same month in 2017, marking the 12th straight month of interannual growth, the INDEC national statistics bureau reported yesterday.

The economy, however, contracted 0.2 percent in February compared with January, INDEC  said.

The upswing was carried by growth in construction (+12.7 percent), trade (+7.9 percent) and financial trade (+7.4 percent). 

Argentina's Gross Domestic Product (GDP) increased 2.8 percent in 2017, according to preliminary government estimates.

The nation’s trade balance closed in March with a deficit of US$611 million, INDEC also reported, raising the trade deficit in the first quarter of the year to US$2.494 billion in total.

It was the country’s 15th consecutive month with a trade deficit, Reuters reported. In February the deficit was US$914 million.

Exports grew by 17.2 percent in the year-on-year measurement for March and imports increased by 8.8% in the same period of comparison. 

- TIMES/AFP

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